What is Skycoin?

in #crypto2 months ago


Source. Crypto info.com

What is Skycoin?

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Skycoin (SKY) is an open-source, community-owned, hardware-based peer-to-peer internet that leverages the incentive structure of the blockchain.

Skycoin’s platform has been billed as 'completely secure, infinitely scalable, and ISP independent' by the project team. Written in Golang and running on the Obelisk consensus algorithm, Skycoin is focused on security, usability, and ease of use. Obelisk is predicated on the notion of ‘web of trust dynamics’, which makes consensus decisions depending upon the influence score of each node. Each node subscribes to a select number of other network nodes, and the density of a node’s network of subscribers determines its influence on the network.

Skywire, the flagship application of Skycoin, aims to decentralize the internet at the hardware level. Skywire's objectives extend beyond providing decentralized bandwidth - it also aims to offer storage and computation.

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